Traders are expecting that the March Supply and Demand report will show reduced South American corn and soybean production estimates, which will lower the world carryover stocks. This is leading to increased US exports, which in turn is also lowering the estimates for US carryover stocks. This is what Informa is expected to show in their mid-morning update. The degree of these changes will impact the direction and extent of the midsession trade.
With the calendar turning to March this week, there is increased interest in US weather. The forecasts are generally calling for normal to above temperatures and normal to above rainfall. La Nina is apparently going away quicker than expected. This all seems to favor a more normal US Midwest growing season, rather than the dry summer outlook offered through the winter, which would offer a bearish price outlook from current futures values.